Folks making >5Lpm, how to live?
Basically want to know how you guys strategise and manage spending. Few questions to make this easier
- Are you single/married? 1.5 Do you have impulsive spending issues?
- What’s the spending + investment + necessities + savings split?
- Are y’all targeting “FIRE” or just winging it?
Been making this much for a while now, married too, zero generational wealth. Somehow we’ve got very bad financial discipline and manage to save only under a lakh per month in Bangalore. Feel we should be doing better :/
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I make somewhere in that area. With my entire family, my expenses touch 1.3L in my bad expenses month. In a normal month, max 75k. I live in a rented house with my parents and my partner.
The key is to not increase your expenses as your income grows.
Can you please tell how many years of exp you have? 5 lakhs a month sounds so good, I wanna reach there as quick as possible :)
Also you work in tech?
5 is what you make, your other half is also working? I would say 2 people can live a very very lavish life in 2 lakhs, how are you saving just a lakh
Just saw you have a home loan that would be 1lakh? Still 2 lakhs can be saved atleast
Uninstall all ecommerce apps like Flipkart, Amazon, buy premium of yt and Spotify to see less product ads
- Married with 2 kids
- No impulsive issues. Try to save 3 toom 4 L each month, across debt & equity instruments
- Yes targeting FIRE
Life still isn't easy, post 40, job options get v limited. Rental Expenses, kids education has been rising at higher rate than my income increase. Opportunity for side gigs and secondary income are rare or too risky.
Each week, atleast once i think of resigning from the company i work due to poor work culture and environment but have to continue to maintain family and reach financial goals.
Hang in there. You’ve achieved a lot in
life. Story of every 9-5er. We just have to keep going 😅
@jaaniDushman What is your tech stack ?
15L+ / month minus 6L+ / month tax = 9L+ / month to play around with.
YOLOing all of it 😄